BlackRock slashes fees, invests in data
Business Insider
BlackRock is cutting $30 million in fees on some of its actively managed funds. It is also investing heavily in data and rolling out nine new funds managed by its quantitative investing group. Read More
Hedge funds are training their computers to think like you
Bloomberg
After several winters of AI, quant funds are applying deep-learning algorithms to mimic the ideal trader’s brain. Read More
Neural networks and suspicious edge
Bloomberg
Matt Levine is back and humorous as ever, giving us his take on how hedge funds use neural networks to find trading signals. Read More
Eton Park to shut down as hedge fund industry faces turmoil
The New York Times
In a letter to investors, Eton Park CEO Eric Mindich said a mix of challenging market conditions and poor performance have led to the decision to shutter operations. Read More
Don’t name your hedge fund “Moderate Capital”
Institutional Investor
What’s in a name? A lot, apparently, when it comes to hedge funds. Investors allocate more flows to names with gravitas, even if the returns aren’t there. Read More
Bloomberg terminal base shrinks in 2016
Finextra
Bloomberg sees its terminal user base shrink for only the second time in its 36-year history. Read More
MapD secures $25 million in Series B funding
Fortune
Congratulations to our friends at MapD, who have secured $25 million in funding for their use of powerful GPUs to speed up analysis of large datasets. Read More
Elon Musk’s billion-dollar crusade to stop the AI Apocalypse
Vanity Fair
Elon Musk seriously thinks that AI could turn evil on us and he is taking steps to ensure humanity is prepared. Read More